I'm more or less in the same boat as you. The only difference is that I don't have a mortgage yet, but I'm looking to buy in the next 2 years. I'm kind of hoping that the Toronto house prices will come down a little, but after this strong Spring season I don't know anymore. Where do you see the Toronto market in a year or two?

Money is never enough, and I think it will get worse in the future with all the boomers retiring en masse and huge deficits the government is running. The only way out of this is higher taxes, at least I see it this way.